LandBridge (NYSE:LB) Trading Up 8% – Time to Buy?

LandBridge Company LLC (NYSE:LB)’s share price was up 8% on Thursday . The stock traded as high as $67.65 and last traded at $67.7670. Approximately 325,802 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 541,453 shares. The stock had previously closed at $62.74.

Analysts Set New Price Targets

Several equities research analysts recently commented on LB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. Janney Montgomery Scott downgraded LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. Piper Sandler boosted their target price on LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th. Wells Fargo & Company decreased their price target on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, UBS Group reissued a “neutral” rating and issued a $65.00 price objective on shares of LandBridge in a research report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.33.

LandBridge Price Performance

The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.26 billion, a PE ratio of 96.68 and a beta of 0.43. The business has a 50-day moving average of $55.22 and a 200 day moving average of $56.21.

Insider Transactions at LandBridge

In other news, insider Harrison Fenner Bolling bought 850 shares of the company’s stock in a transaction on Monday, January 5th. The shares were purchased at an average price of $46.84 per share, with a total value of $39,814.00. Following the transaction, the insider directly owned 66,874 shares in the company, valued at $3,132,378.16. This represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Thomas Long bought 2,143 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was acquired at an average price of $46.59 per share, for a total transaction of $99,842.37. Following the purchase, the insider directly owned 223,546 shares in the company, valued at approximately $10,415,008.14. The trade was a 0.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 3,542 shares of company stock valued at $164,630 over the last ninety days. 70.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Manhattan CO. LLC. boosted its position in shares of LandBridge by 24.0% during the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after acquiring an additional 1,330,099 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of LandBridge during the fourth quarter worth approximately $33,817,000. DF Dent & Co. Inc. bought a new stake in LandBridge in the fourth quarter worth $21,506,000. Cortland Associates Inc. MO boosted its holdings in LandBridge by 172.0% during the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock valued at $22,004,000 after acquiring an additional 260,812 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in LandBridge by 1,957.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company’s stock valued at $10,522,000 after purchasing an additional 204,331 shares during the last quarter.

About LandBridge

LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It also sells brackish water and other surface composite materials. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.